Two October surprises could boost oil prices above $50 - RBC Capital Markets

CNBC out with latest oil outlook by Helima Croft, global head of commodity strategy at RBC Capital Markets, predicting oil prices to trade above $ 50/ bbl should October deliver two major surprises to the oil markets.

Key Points via CNBC:

The first potential shock Croft and her team at RBC are monitoring is a debt default by Venezuelan oil giant Petroleos de Venezuela SA. Oil production from the state-owned PDVSA has steadily slipped as the country grapples with a financial crisis after the collapse in crude prices in 2014 and years of economic mismanagement.

Croft told CNBC's "Squawk on the Street": “They have $3.5 billion in national oil company debt coming due in October-November. If they default, that could be significant for Venezuela's production outlook." 

The second surprise would come if the United States abandons an international deal that lifted sanctions on Iran.